Boyd Gaming Corporation announced that its board of directors has authorized a new share repurchase program of $100 million. The program is in addition to the company’s existing repurchase authorization.
“Our new repurchase authorization underscores our commitment to use a portion of our growing free cash flow to return capital to shareholders,” said Keith Smith, president and CEO of Boyd Gaming. “We remain committed to a well-balanced approach to maximizing shareholder value through accretive acquisitions, reinvestments in our existing assets, deleveraging, share repurchases and regular quarterly dividend payments.”
Under the stock repurchase programs, the company may repurchase shares of its common stock on the open market or in privately negotiated agreements. Repurchases of common stock may also be made under Rule 10b5-1 plans, which would permit common stock to be repurchased when the company might otherwise be precluded from doing so under insider trading laws.
The timing, volume and nature of share repurchases will be at the sole discretion of management, dependent on market conditions, applicable securities laws and other factors, and may be suspended or discontinued at any time.
